Walmart and Kmart
December 9th, 2007 at 12:21 am (Uncategorized, Shopping)
There are two the hugest discounters at the market: Walmart and Kmart. It is your own choice where to shop. We would like to provide you with some information about the companies to help you to choose.
Kmart. Kmart Corporation is a company that runs the second after Walmart chain of the discount stores, book stores Walden Bookstores, coffee shops, drugstores PayLess Drug Stores, which actually has been sold in1996, home improvement stores and mega stores Kmart Super Center. There are about 60 Kmart Super Centers; the first has been opened in 1991. Kmart Corporation used to be on the lists of Fortune 500. The company was established as S.S. Kresge Company in 1912, the very first store was opened in 1897. In 2002 after having made some attempts to save the retail business Kmart went into bankruptcy. Asset value of the company was $ 17 mln and this case of bankruptcy is considered to be the hugest one in the whole history of the American retail. In 2003 the reorganization was finished, 300 stores were closed. This is the main reason of many complaints, in which former employees tell how they were made redundant.
Walmart. Walmart is a chain of the cheapest department stores and this chain is the biggest in the whole country. Walmart store is a must in the American suburbs. Walmart stores, Inc. is on the lists of Fortune 500. The first Walmart store was opened in 1962 in Arkansas, the company was established in 1969. The founders of the company are idols of the American business Sam and Bud Walton. Sam Walton was on the Time Magazine list of 100 greatest people of the 20 century. Nowadays Walmart is very popular because of higher tax refunds and eventually improvements in the jobs picture. The company is world’s largest retailer by revenues. Many people choose Walmart because it chooses to mix merchandise instead of raising prices.